Exhibit 23(d)(14)(b)
FIRST AMENDMENT TO
SUB-ADVISORY AGREEMENT
THIS FIRST AMENDMENT, dated as of April 30, 2008 (the "Amendment"), to the
Sub-Advisory Agreement, made as of April 30, 2007 (the "Agreement"), is by and
between LINCOLN INVESTMENT ADVISORS CORPORATION (the "Adviser") and MONDRIAN
INVESTMENT PARTNERS LIMITED (the "Sub-Adviser").
WHEREAS, the Adviser and the Sub-Adviser have entered into the Agreement to
with respect to management of the assets of the LVIP Mondrian International
Value Fund (the "Fund");
WHEREAS, the Adviser and the Sub-Adviser desire to amend the Agreement to
modify the Sub-Adviser's fees;
NOW, THEREFORE, in consideration of the foregoing premises and other good
and valuable consideration, the parties agree as follows:
1. Schedule A to the Agreement is hereby deleted in its entirety and
Schedule A attached hereto is substituted in its place.
3. Except as expressly amended hereby, all provisions of the Agreement
remain in full force and effect and are unchanged in all other respects.
4. This Amendment may be executed in one or more counterparts, each of
which shall be deemed to be an original and, all of which, when taken
together, shall constitute but one and the same instrument.
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
signed by their duly authorized officers and duly attested as of the 30th day
of April 2008.
MONDRIAN INVESMENT LINCOLN INVESTMENT ADVISORS
PARTNERS LIMITED CORPORATION
/s/ Xxxxx Xxxxxxxx /s/ Xxxxx X. Xxxxxxx
--------------------------------------- --------------------------------------
Name: Xxxxx Xxxxxxxx Name: Xxxxx X. Xxxxxxx
Title: Chief Executive Officer Title: Second Vice President
Attest: /s/ Xxxx Xxxxxxx Attest: /s/ Xxxxx Xxxxxx
------------------------------- ------------------------------
Name: Xxxx Xxxxxxx Name: Xxxxx Xxxxxx
Title: Executive Secretary Title: Securities Fund Specialist
Accepted and agreed to
as of the date first above written:
LVIP MONDRIAN INTERNATIONAL
VALUE FUND, a series of Lincoln
Variable Insurance Products Trust
/s/ Xxxxx X. Xxxxxxxxx
----------------------------------
Name: Xxxxx X. Xxxxxxxxx
Title: President
Attest: /s/ Xxxxxxx X. Xxxx
--------------------------
Name: Xxxxxxx Xxxx
Title: Senior Counsel, Lincoln
National Life Insurance
Company
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SCHEDULE A
Fee Schedule
The Investment Manager will pay to the Sub-Adviser a fee each month based on
the average daily net assets of the Fund during the month. The Investment
Manager shall pay to the Sub-Adviser compensation at an annual rate as follows:
.40% on the average daily net assets of the Fund up to $800 million;
.35% on the average daily net assets of the Fund from $800 million
to $1.3 billion; and
.33% on the average daily net assets of the Fund over $1.3 billion.
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